Peraso Inc. has announced preliminary revenue results for the second quarter ended 30 June 2024. Total net revenue for the second quarter is anticipated to be approximately $4.2 million, exceeding the company’s previous guidance.
“Our stronger than expected preliminary revenue results for the second quarter represent strong growth of over 50% sequentially and over 70% year-over-year,” said Ron Glibbery, CEO of Peraso. “The higher revenue for the quarter was primarily driven by increased shipments of our end-of life (EOL) memory IC products, combined with a new volume production order for our mmWave antenna modules in support of the initial deployment of our DUNE platform by a South African service provider. We expect additional incremental orders from this customer in the coming quarters, together with a growing number of mmWave customer engagements targeting gigabit-speed fixed wireless access applications in dense urban environments. The further ramping of our mmWave shipments, as well as continued fulfilment of our sizable backlog orders of EOL memory products, gives us increased confidence in the Company’s outlook for continued growth in the second half of 2024.”
